A new UN report says that growth for Asia-Pacific economies is broadly stable and expected to rise 4.8 per cent in 2016 and 5 per cent in 2017, up from an estimated 4.6 per cent growth in 2015.
According to the Economic and Social Survey of Asia and the Pacific, released today, that forecast, however, is clouded by uncertainty and threatened by a significant increase in private debt, the risk of higher interest rates in the US and a slowdown in regional exports to China.
Economic Affairs Officer Sebastian Vergara said these risks could derail expected recovery and growth and added that productivity gains, especially in the area of agriculture, and a new focus on internal demand within the region would help to foster more robust growth in line with UN development goals.
